Inhibrx Biosciences Inc Financials
This page shows Inhibrx Biosciences Inc (INBX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Inhibrx Biosciences is still an externally funded R&D business, with expense resets doing more than revenue to shape results.
Operating cash burn sat around$194M for two straight years while revenue stayed negligible, then fell to about$130M as R&D and overhead were reset lower, not because the business became commercial. That lower burn still required$101M of financing inflow, so cash runway depends more on balance-sheet funding than on customers.
The current ratio stayed at 3.9x, so near-term obligations were still covered. But debt-to-equity reached 12.6x as equity fell to only
Research spending still dominates the model: R&D of
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Inhibrx Biosciences Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Inhibrx Biosciences Inc has an operating margin of -10386.5%, meaning the company retains $-10387 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -165724.0% the prior year.
Inhibrx Biosciences Inc's revenue surged 550.0% year-over-year to $1.3M, reflecting rapid business expansion. This strong growth earns a score of 8/100.
Inhibrx Biosciences Inc has elevated debt relative to equity (D/E of 12.58), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
With a current ratio of 3.93, Inhibrx Biosciences Inc holds $3.93 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 77/100.
While Inhibrx Biosciences Inc generated -$129.8M in operating cash flow, capex of $31K consumed most of it, leaving -$129.8M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Inhibrx Biosciences Inc generates a -1752.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100.
Inhibrx Biosciences Inc passes 2 of 9 financial strength tests. 1 of 3 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Inhibrx Biosciences Inc generates $0.93 in operating cash flow (-$129.8M OCF vs -$140.1M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Inhibrx Biosciences Inc earns $-11.1 in operating income for every $1 of interest expense (-$135.0M vs $12.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Inhibrx Biosciences Inc generated $1.3M in revenue in fiscal year 2025. This represents an increase of 550.0% from the prior year.
Inhibrx Biosciences Inc's EBITDA was -$132.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 59.7% from the prior year.
Inhibrx Biosciences Inc reported -$140.1M in net income in fiscal year 2025.
Inhibrx Biosciences Inc earned $-9.04 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 108.0% from the prior year.
Cash & Balance Sheet
Inhibrx Biosciences Inc generated -$129.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 34.1% from the prior year.
Inhibrx Biosciences Inc held $124.2M in cash against $100.6M in long-term debt as of fiscal year 2025.
Inhibrx Biosciences Inc had 15M shares outstanding in fiscal year 2025. This represents an increase of 0.7% from the prior year.
Margins & Returns
Inhibrx Biosciences Inc's operating margin was -10386.5% in fiscal year 2025, reflecting core business profitability. This is up 155337.5 percentage points from the prior year.
Inhibrx Biosciences Inc's net profit margin was -10773.5% in fiscal year 2025, showing the share of revenue converted to profit.
Inhibrx Biosciences Inc's ROE was -1752.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Capital Allocation
Inhibrx Biosciences Inc invested $113.0M in research and development in fiscal year 2025. This represents a decrease of 44.5% from the prior year.
Inhibrx Biosciences Inc invested $31K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 98.8% from the prior year.
INBX Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | $0-100.0% | $1.3M | $0 | N/A | $0-100.0% | $100K | $0 |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | $28.5M+28.1% | $22.3M-39.6% | $36.9M | N/A | $38.9M-42.5% | $67.6M+5.9% | $63.9M |
| SG&A Expenses | N/A | $5.3M-17.8% | $6.4M+6.6% | $6.0M | N/A | $7.9M-91.5% | $93.4M+836.1% | $10.0M |
| Operating Income | N/A | -$33.8M-23.5% | -$27.4M+36.2% | -$42.9M | N/A | -$46.8M+70.9% | -$160.9M-117.9% | -$73.8M |
| Interest Expense | N/A | $3.2M+1.3% | $3.1M+16.8% | $2.7M | N/A | $0-100.0% | $5.4M-34.1% | $8.1M |
| Income Tax | N/A | $0-100.0% | $2K | $0 | N/A | $0-100.0% | $2K | $0 |
| Net Income | N/A | -$35.3M-23.0% | -$28.7M+33.8% | -$43.3M | N/A | -$43.9M | N/A | -$78.7M |
| EPS (Diluted) | N/A | $-2.28-23.2% | $-1.85+33.9% | $-2.80 | N/A | $-2.84-102.3% | $125.48+2274.7% | $-5.77 |
INBX Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $146.5M-17.5% | $177.5M-16.3% | $212.1M-12.6% | $242.6M+34.2% | $180.8M-18.8% | $222.6M-13.9% | $258.4M | N/A |
| Current Assets | $132.8M-17.7% | $161.4M-16.8% | $194.0M-13.2% | $223.4M+39.3% | $160.4M-22.7% | $207.4M-14.3% | $242.1M | N/A |
| Cash & Equivalents | $124.2M-18.9% | $153.1M-17.9% | $186.6M-13.8% | $216.5M+41.9% | $152.6M-22.3% | $196.3M-13.5% | $226.9M-10.1% | $252.5M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $138.5M-1.5% | $140.6M-2.0% | $143.6M-3.1% | $148.2M+214.1% | $47.2M+7.0% | $44.1M+12.9% | $39.1M | N/A |
| Current Liabilities | $33.8M-6.1% | $36.0M-7.6% | $38.9M-10.8% | $43.6M+7.1% | $40.7M-7.6% | $44.1M+12.9% | $39.1M | N/A |
| Long-Term Debt | $100.6M+0.6% | $99.9M+0.6% | $99.3M+0.6% | $98.7M | $0 | $0 | $0 | N/A |
| Total Equity | $8.0M-78.3% | $36.8M-46.3% | $68.6M-27.4% | $94.4M-29.3% | $133.6M-25.1% | $178.5M-18.6% | $219.4M+1796.3% | $11.6M |
| Retained Earnings | -$246.2M-15.4% | -$213.4M-19.8% | -$178.1M-19.2% | -$149.4M-40.8% | -$106.1M-82.1% | -$58.3M-304.5% | -$14.4M | N/A |
INBX Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$30.1M+10.9% | -$33.8M-12.9% | -$30.0M+16.6% | -$35.9M+17.9% | -$43.7M-44.4% | -$30.3M+47.2% | -$57.4M+9.0% | -$63.0M |
| Capital Expenditures | $0-100.0% | $10K | $0-100.0% | $21K+31.3% | $16K-93.5% | $247K-79.7% | $1.2M+8.6% | $1.1M |
| Free Cash Flow | -$30.1M+11.0% | -$33.8M-13.0% | -$30.0M+16.6% | -$35.9M+17.9% | -$43.7M-43.3% | -$30.5M+47.9% | -$58.6M+8.7% | -$64.2M |
| Investing Cash Flow | $0+100.0% | -$7K | $0+100.0% | -$21K-31.3% | -$16K+93.5% | -$247K+79.7% | -$1.2M-8.6% | -$1.1M |
| Financing Cash Flow | $1.3M+256.3% | $352K | $0-100.0% | $99.8M | $0 | $0-100.0% | $33.0M-14.9% | $38.7M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
INBX Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | -2106.8% | N/A | N/A | N/A | -160898.0% | N/A |
| Net Margin | N/A | N/A | -2204.2% | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | -95.7%-53.9pp | -41.8%+4.1pp | -45.9% | N/A | -24.6% | N/A | -680.4% |
| Return on Assets | N/A | -19.9%-6.4pp | -13.5%+4.3pp | -17.8% | N/A | -19.7% | N/A | N/A |
| Current Ratio | 3.93-0.6 | 4.49-0.5 | 4.98-0.1 | 5.12+1.2 | 3.94-0.8 | 4.70-1.5 | 6.20 | N/A |
| Debt-to-Equity | 12.58+9.9 | 2.71+1.3 | 1.45+0.4 | 1.04+1.0 | 0.000.0 | 0.000.0 | 0.00 | N/A |
| FCF Margin | N/A | N/A | -2304.1% | N/A | N/A | N/A | -58573.0% | N/A |
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Frequently Asked Questions
What is Inhibrx Biosciences Inc's annual revenue?
Inhibrx Biosciences Inc (INBX) reported $1.3M in total revenue for fiscal year 2025. This represents a 550.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Inhibrx Biosciences Inc's revenue growing?
Inhibrx Biosciences Inc (INBX) revenue grew by 550% year-over-year, from $200K to $1.3M in fiscal year 2025.
Is Inhibrx Biosciences Inc profitable?
No, Inhibrx Biosciences Inc (INBX) reported a net income of -$140.1M in fiscal year 2025, with a net profit margin of -10773.5%.
What is Inhibrx Biosciences Inc's EBITDA?
Inhibrx Biosciences Inc (INBX) had EBITDA of -$132.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Inhibrx Biosciences Inc have?
As of fiscal year 2025, Inhibrx Biosciences Inc (INBX) had $124.2M in cash and equivalents against $100.6M in long-term debt.
What is Inhibrx Biosciences Inc's operating margin?
Inhibrx Biosciences Inc (INBX) had an operating margin of -10386.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Inhibrx Biosciences Inc's net profit margin?
Inhibrx Biosciences Inc (INBX) had a net profit margin of -10773.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Inhibrx Biosciences Inc's return on equity (ROE)?
Inhibrx Biosciences Inc (INBX) has a return on equity of -1752.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Inhibrx Biosciences Inc's free cash flow?
Inhibrx Biosciences Inc (INBX) generated -$129.8M in free cash flow during fiscal year 2025. This represents a 34.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Inhibrx Biosciences Inc's operating cash flow?
Inhibrx Biosciences Inc (INBX) generated -$129.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Inhibrx Biosciences Inc's total assets?
Inhibrx Biosciences Inc (INBX) had $146.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Inhibrx Biosciences Inc's capital expenditures?
Inhibrx Biosciences Inc (INBX) invested $31K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Inhibrx Biosciences Inc spend on research and development?
Inhibrx Biosciences Inc (INBX) invested $113.0M in research and development during fiscal year 2025.
What is Inhibrx Biosciences Inc's current ratio?
Inhibrx Biosciences Inc (INBX) had a current ratio of 3.93 as of fiscal year 2025, which is generally considered healthy.
What is Inhibrx Biosciences Inc's debt-to-equity ratio?
Inhibrx Biosciences Inc (INBX) had a debt-to-equity ratio of 12.58 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Inhibrx Biosciences Inc's return on assets (ROA)?
Inhibrx Biosciences Inc (INBX) had a return on assets of -95.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Inhibrx Biosciences Inc's cash runway?
Based on fiscal year 2025 data, Inhibrx Biosciences Inc (INBX) had $124.2M in cash against an annual operating cash burn of $129.8M. This gives an estimated cash runway of approximately 11 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Inhibrx Biosciences Inc's Piotroski F-Score?
Inhibrx Biosciences Inc (INBX) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Inhibrx Biosciences Inc's earnings high quality?
Inhibrx Biosciences Inc (INBX) has an earnings quality ratio of 0.93x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Inhibrx Biosciences Inc cover its interest payments?
Inhibrx Biosciences Inc (INBX) has an interest coverage ratio of -11.1x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Inhibrx Biosciences Inc?
Inhibrx Biosciences Inc (INBX) scores 14 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.